MANAGUA, Nic- PRONicaragua, the official investment promotion agency of Nicaragua, attended the Annual Investment Conference on “Global Investments: Charting the Recovery Map” organized by the World Association of Investment Promotion Agencies (WAIPA) in Milan, Italy, from Oct. 12 – 14 of 2009. The conference was a key opportunity to debate, through a series of discussion sessions, the changes implanted in the world investment system by governments’ reactions to the crisis, but also by new players that have been gaining importance and traditional players with new strategies.

The conference brought together an international panel of heads of state and other government officials, chief executives from the corporate world, opinion-makers from academia, the media and Investment Promotion Agencies (IPAs), who addressed themes such as the new instruments to enhance investment flows, insights into the future of Foreign Direct Investment (FDI) streams and new capital flows fostered by public stimuli.

PRONicaragua’s participation in this important event highlights the agency’s active involvement with the WAIPA organization and its interest in being up to date on the latest industry trends and promotional tools in order to more effectively manage its investment promotion strategy.

Additionally, PRONicaragua and PROMOS, the Special Agency of the Milan Chamber of Commerce for the Development of International Activities, organized a reception where Javier Chamorro, Executive Director of PRONicaragua, presented the advantages the country offers as an ideal investment destination, such as a competitive cost structure, favorable business climate, generous investment incentives, strategic location, qualified human resources and a high quality of life, among others. Chamorro also had the opportunity to interact with important investors from the textiles, construction and manufacturing sectors of Milan to discuss possible investment projects in Nicaragua.

“Italian investments in Nicaragua during the first semester of 2009 have reached over $9.3 million, an increase of 75 percent if compared to the total investments of Italian origin registered during all of 2008. This leap clearly demonstrates investors are discovering Nicaragua’s potential for the successful development of investment projects,” commented Chamorro, who also added that PRONicaragua will continue to actively work in strengthening economic relations between the two countries and in promoting investment opportunities in Nicaragua.

In January 2010, PRONicaragua will be collaborating with the Nicaraguan Tourism Board (INTUR, for its acronym in Spanish) in the execution of the “Nicaragua Business Expo - Regione Lombardia 2010” in Milan, Italy. The objective of the event is to encourage economic exchange between the Region of Lombardy and Nicaragua by focusing on three major areas: Tourism, Trade and Investment. The fair will include the participation of various Nicaraguan firms from these sectors who are interested in expanding their business horizons, as well as Italian wholesalers and potential local clients looking to establish business relations.

PRONicaragua is the Nicaraguan investment promotion agency established in 2002. It is a non-profit, public-private institution whose mission is to generate economic growth and job creation in Nicaragua by attracting high-quality foreign direct investment. The agency provides complimentary support services to qualified investors seeking investment opportunities in the country.

For additional information, please contact us at: www.pronicaragua.org